Regulators are reportedly in talks with a former White House teleprompter operator as the U.S. probes whether nonpublic information was used to profit from political prediction markets. ABC News reported that Gabriel Perez—who has supported the Trump teleprompter since 2016—has been accused of betting on Kalshi markets tied to words and topics appearing in the president’s speeches.

According to ABC, Kalshi’s surveillance identified activity linked to more than a dozen speech-related contracts over roughly three months, with profits reportedly exceeding $100,000. The report adds a familiar but thorny issue to the growing prediction market sector: when real-time access and politically sensitive timing can create opportunities for alleged “insider” advantages.

Key takeaways

• ABC News says Gabriel Perez, the teleprompter operator since 2016, allegedly profited from Kalshi “Mentions” markets tied to Trump speeches.
• Kalshi reportedly detected the trades and referred them to the Commodity Futures Trading Commission, linking activity to more than a dozen speeches over about three months.
• ABC reports that Perez sometimes exited positions mid-speech when Trump skipped prepared passages containing wagered words.
• The White House placed Perez on unpaid administrative leave after the report, according to White House press secretary Karoline Leavitt.
• Congressional and regulatory attention has intensified as other prediction-market cases raised concerns about information timing and potential misconduct.

What ABC says happened on Kalshi

ABC News reported that Perez, a technical assistant who operated the president’s teleprompter, placed bets on Kalshi markets tied to phrases and topics expected to appear during Trump’s remarks. The contracts were part of Kalshi’s “Mentions” suite, which lets users trade on whether specific words, phrases, or topics will show up in public speeches.

Per ABC’s sources, the alleged conduct involved bets on more than a dozen markets associated with multiple speeches, including the State of the Union and remarks delivered at the World Economic Forum. The outlet also reported that the activity generated more than $100,000 in profits.

ABC further claims that Perez sometimes exited positions while speeches were underway, particularly when Trump skipped portions of prepared text that included words Perez had allegedly wagered would be mentioned. That detail—timing trades to the content that ultimately appears—could be central to how regulators evaluate whether the trades reflected privileged access or legitimate market behavior.

Kalshi’s surveillance and a CFTC referral

In ABC’s account, Kalshi detected the trades using its surveillance systems and referred the activity to the Commodity Futures Trading Commission. For prediction market participants, the practical implication is straightforward: platform monitoring may increasingly focus not only on trading volume or profit patterns, but also on whether trades cluster around sensitive events in ways that could indicate information advantages.

The case also underscores how prediction markets, even when they are built around public speech formats and verifiable outcomes, can intersect with regulatory scrutiny if trading appears coordinated with nonpublic material.

White House response and administrative leave

Following ABC’s report, the White House placed Perez on unpaid administrative leave, according to press secretary Karoline Leavitt. Leavitt said Trump called the alleged conduct a “disgrace.”

While the report describes accusations and an ongoing regulatory engagement, readers should note that administrative leave is not the same as a final finding of wrongdoing. Still, the action signals that the alleged behavior—if confirmed—would represent more than a routine market dispute, given Perez’s role in the teleprompter operation and the claimed linkage to politically sensitive communications.

Why this matters to prediction markets now

This development arrives as prediction markets have faced mounting attention over potential insider trading risks, particularly as activity and visibility grow. Cointelegraph previously reported that Polymarket traders earned roughly $1 million after correctly betting on a U.S. strike against Iran before the end of February, raising questions about whether some traders may have had access to information ahead of public reporting. Bloomberg, citing analytics firm Bubblemaps, was also reported to have identified wallets placing bets only hours before explosions were first reported in Tehran.

Other cases described by Cointelegraph have similarly involved timing concerns. Cointelegraph reported on instances where wallets earned more than $1.2 million by betting on an onchain investigation into DeFi platform Axiom shortly before blockchain investigator ZachXBT published allegations involving an employee. Separately, another trader was reported to have made about $400,000 by wagering on a Venezuelan political event shortly before news became public, with subsequent disappearance reported by Cointelegraph.

Taken together, these examples highlight a recurring asymmetry in prediction markets: while outcomes are ultimately verifiable, the period between a potentially market-moving piece of information and its public release can create incentives to seek advantages. That tension is especially acute for contracts that map closely to political messaging, breaking news, or other time-sensitive developments.

Beyond enforcement, lawmakers have also begun to weigh in. Cointelegraph reported that Republican Representative Bryan Steil, who chairs the House subcommittee on digital assets, introduced legislation intended to bar members of Congress and their immediate families from trading prediction market contracts tied to public policy and political outcomes.

Kalshi’s referral to the CFTC and the reported involvement of a White House insider adds another dimension to the debate: even without legislative restrictions, platforms and regulators may increasingly treat “who had access to what, and when” as central to market integrity.

What to watch next

For market participants, the next signals to monitor are whether the CFTC’s involvement leads to formal charges, and how Kalshi and other prediction platforms refine surveillance and compliance measures for politically related or otherwise sensitive events. The broader question remains whether regulators will draw clear lines between ordinary trading behavior and trading that plausibly depends on nonpublic access—lines that will shape how confident users can be in the fairness of future prediction market outcomes.

SpaceX stock has fallen nearly 5% to a post-IPO low of $125 after the company aborted Starship’s 13th test flight shortly before liftoff.

SPCX has slipped below its $135 initial public offering price and lost about 35% over the past 30 days. The decline extends a losing streak that began after enthusiasm surrounding SpaceX’s public debut cooled and early investors started taking profits.

Selling accelerated after SpaceX halted its latest Starship launch during pre-flight procedures. According to the company, at least two Raptor engines on the Super Heavy booster failed to ignite, preventing the rocket from proceeding with the planned test.

CEO Elon Musk later confirmed that SpaceX would replace the affected engines before making another launch attempt. His update pushed the flight into the following week, adding a fresh setback for a stock already trading well below its post-IPO peak.

Starship engine failure adds pressure on SpaceX stock

SpaceX’s launch cancellation gave traders another reason to reduce their exposure after several weeks of falling prices. While the company did not link the stock decline directly to the failed ignition, market commentary on X focused heavily on the timing of the abort and the subsequent 5% selloff.

Author and cognitive scientist Gary Marcus suggested that the failed attempt could deepen concerns about investor confidence in Musk’s ability to execute SpaceX’s plans. Clarifying his view later, Marcus argued that another record low appeared more likely than a sudden collapse in the company’s shares.

Investor and longtime Tesla supporter Sawyer Merritt took the opposite position. Commenting on the selloff, Merritt argued that shareholders were placing too much weight on a launch delay expected to last only a few days.

Investors selling SpaceX shares for that reason “shouldn’t have been in the stock in the first place,” Merritt wrote on X. His comment framed the market reaction as excessive, although the shares remained under pressure following the postponement.

Before the recent decline, demand surrounding SpaceX’s IPO had driven SPCX as high as $225.64. The stock has since surrendered much of that advance and now trades about 8% below its offering price.

Revised Starship launch offers the next test for investors

SpaceX has rescheduled Starship’s 13th test flight for Monday, July 20, at 6:45 p.m. ET, according to the company’s latest announcement. The updated timetable gives engineers several days to replace the two engines and prepare the Super Heavy booster for another attempt.

Merritt pointed to the revised date as evidence that the interruption may be brief. Marcus, however, continued to focus on the stock’s deteriorating performance, leaving two sharply different readings of what the aborted launch means for shareholders.

A successful flight could influence sentiment around SPCX, but that possibility remains dependent on SpaceX completing the test without another technical delay. Until then, price data shows that the shares remain caught in a month-long decline despite the company providing a new launch schedule.

Separate from the test flight, Binance has introduced a perpetual futures product linked to SpaceX stock, according to the exchange’s announcement. The contract gives eligible traders derivatives-based exposure to SPCX, adding another venue through which market participants can take leveraged positions on the company’s price movements.

Anthropic has proposed leasing up to $10 billion of computing power from Meta Platforms over two years as the AI developer prepares for a possible October IPO.

According to Reuters, which cited The New York Times, Meta is reviewing the proposal after Anthropic presented the terms in June. The planned agreement would require Anthropic to make monthly payments for access to Meta’s computing capacity.

Both companies could end the contract before the two-year period expires, the report added. Meta and Anthropic have not finalized the arrangement, leaving its value and duration subject to the outcome of their talks.

For Anthropic, the lease would provide access to the processing capacity needed to train and operate advanced artificial intelligence models. AI developers depend on large numbers of specialized chips and data centers, making reliable computing access a central part of their expansion plans.

Meta, in turn, could earn revenue from infrastructure built primarily for its own AI products and services. According to the report, the proposed lease would give the social media company another way to generate returns from its computing investments beyond its advertising business.

Meta could enter the AI infrastructure market

A completed agreement would place Meta in competition with CoreWeave and Nebius, two companies that supply computing infrastructure for AI workloads. Reuters reported that the Anthropic proposal could turn Meta into a provider of capacity to an external AI developer while it continues building models and products of its own.

The talks have emerged as technology companies compete for chips, electricity and data center space. Under the reported structure, Anthropic would secure capacity from a company that has spent heavily on AI infrastructure, while Meta would add a potential customer for resources within its computing network.

Anthropic has also pursued separate long-term infrastructure arrangements. Earlier this month, the company signed a 20-year data center lease with Bitcoin miner TeraWulf. The agreement is expected to supply additional computing resources for Anthropic’s future AI development.

Taken together, the Meta discussions and TeraWulf lease show how Anthropic is assembling the infrastructure required to support its models. Any assessment of the scale or financial effect of those agreements, however, depends on their final terms and the amount of capacity Anthropic ultimately uses.

Anthropic could reach public markets in October

Bloomberg reported that Anthropic is moving forward with preparations for a possible stock market listing. Banks working on the offering have begun arranging meetings between company executives and prospective investors, according to the report.

Those meetings could support an IPO as early as October, although Bloomberg’s timeline remains subject to market conditions and the company’s final decision. An October debut would put Anthropic in the public market before OpenAI, which Bloomberg reported is considering a listing in 2027.

Chinese AI developer DeepSeek is also preparing for an eventual public offering, according to the original report. Anthropic could therefore become one of the first major companies from the latest generation of AI model developers to list its shares.

Before the IPO report emerged, Anthropic had received approval from the US government to restore access to its Mythos 5 model for selected companies and federal agencies last month. Combined with its infrastructure agreements and investor meetings, the decision adds another development for banks and potential shareholders to examine as preparations continue.

OKX Europe has introduced a “one-way conversion” tool that lets customers deposit Tether’s USDT and convert it into Circle’s MiCA-compliant USDC. The feature is aimed at clients who can no longer keep USDT supported on their accounts as European Union stablecoin rules tighten.

In an announcement shared with Cointelegraph, OKX Europe said the process is customer-controlled: users can deposit USDT into their OKX Europe account and convert it into USDC at their discretion, rather than being forced through a platform-imposed deadline. The exchange said the tool is meant to support customers whose existing venues no longer accept USDT or who plan to move balances automatically to compliant alternatives.

Key takeaways

• OKX Europe now supports conversion from USDT into MiCA-compliant USDC, without requiring a two-way transfer option.
• The feature targets customers affected by MiCA implementation, when many EU-facing platforms reduced USDT availability.
• OKX Europe positions the update as a migration path for users who want to preserve value continuity while shifting to USDC.
• Tether has not pursued MiCA authorization for USDT, which is central to why some platforms restrict or delist USDT in the EU.
• USDT remains the largest stablecoin by market share, according to DefiLlama, even as compliance-driven changes accelerate in Europe.

How OKX Europe’s one-way migration works

According to OKX Europe’s announcement, the new conversion feature allows customers to deposit USDT—Tether’s USDt—into their OKX Europe account and convert those tokens into USDC. USDC is described as one of the major stablecoins that fits the EU’s Markets in Crypto-Assets (MiCA) framework.

The “one-way” aspect matters: the workflow is designed to move balances toward a MiCA-aligned stablecoin rather than enabling conversion in both directions. OKX Europe also emphasized that conversions can be completed at the customer’s discretion instead of via a strict cutoff determined by the exchange.

OKX Europe operates under its MiCA license across 30 EU and European Economic Area countries, positioning the feature as a practical bridge for users navigating where USDT is no longer supported.

MiCA rollout forces stablecoin support to change

The timing aligns with the EU’s stablecoin regulatory rollout. Tether has not obtained authorization to issue USDT under MiCA, a status that has led many European platforms to restrict deposits, remove trading pairs, or convert client balances into compliant alternatives as MiCA rules took full effect on July 1.

That regulatory friction is not marginal. DefiLlama data cited in the report shows Tether accounts for about 59% of the roughly $310 billion stablecoin market, with USDT market capitalization around $184 billion. Circle’s USDC is much smaller by comparison, at about $73 billion, but still one of the largest compliant options for EU-based platforms.

For investors and traders, these shifts can change liquidity and execution. When a major venue restricts deposits or delists pairs, users who depend on a stablecoin—whether for trading, hedging, or moving between exchanges—can face friction even if the underlying stablecoin remains available elsewhere outside the EU.

Tether’s stance on MiCA authorization

Tether has defended its decision not to pursue MiCA authorization for USDT, and the approach has shaped the behavior of European market operators. Cointelegraph previously reported that Tether CEO Paolo Ardoino has criticized MiCA, arguing that reserve requirements could introduce unnecessary risk by requiring part of reserves to be held with European credit institutions.

Ardoino has also suggested that the regulatory tradeoffs are not favorable for stablecoin issuers. In a May 2025 interview with Cointelegraph, he characterized MiCA’s approach as “very dangerous when it comes to stablecoins,” noting Tether’s choice not to seek authorization despite expectations that USDT could lose support on European exchanges.

More recently, in a July 2025 post on X, Ardoino said Tether would reconsider pursuing MiCA authorization only “when MiCA becomes safer for consumers and stablecoin issuers.” The messaging indicates Tether sees no near-term reason to change course—an implication reinforced by the continuing migration efforts from EU-facing exchanges and other service providers.

Broader industry response: from exchanges to retail apps

OKX Europe’s conversion tool reflects a wider trend across Europe: when MiCA restricts USDT access, platforms often re-route customers toward compliant stablecoins or withdrawal pathways.

One example highlighted in the same material is Revolut, a digital banking platform that said it will stop supporting USDT for customers in the European Economic Area and Switzerland. Revolut reportedly gave users until Aug. 31 to sell or withdraw their holdings, with any remaining balances expected to be automatically converted into the base currency.

These actions underscore a key asymmetry for USDT holders in Europe. While USDT remains globally dominant, users in MiCA-regulated jurisdictions may experience forced transitions—either by changing what can be deposited and traded on exchanges or by shifting stablecoin exposure within retail financial interfaces.

For traders, this can affect strategy execution. Stablecoin pairs tied to USDT liquidity may shrink, and conversion paths could introduce operational steps or timing variability. For users focused on custody or settlement, the migration choice also becomes a matter of which compliant stablecoin is supported on the platform they use day to day.

What to watch next for EU stablecoin migration

As MiCA compliance keeps reshaping which stablecoins are usable on EU-facing platforms, customers should watch whether more exchanges adopt similar “migration” features and whether USDT support continues to narrow to withdrawals and conversions rather than active trading. The next turning point will likely be how quickly the market’s liquidity consolidates around MiCA-approved alternatives like USDC—and whether Tether’s position evolves if regulatory conditions change.

Artificial intelligence remains the dominant investment theme of 2026, but investors are increasingly questioning whether AI stock valuations are keeping pace with reality.

💰 Big Tech continues to invest at an unprecedented scale, with hyperscaler AI spending projected to exceed $800 billion in 2026.

📈 TSMC’s latest earnings showed a 77.4% year-on-year increase in quarterly profit, highlighting that demand for AI chips remains exceptionally strong.

⚖️ At the same time, the Bank of England has warned that elevated valuations and rapidly rising investment expectations could leave markets vulnerable if earnings fail to justify current prices.

The debate is becoming increasingly clear.

📈 Bullish case: AI leaders continue to deliver strong earnings growth, record investment and genuine commercial demand.

📉 Bearish case: Valuations may already reflect years of future growth, leaving little room for disappointment if AI adoption or earnings slows.

The key question for investors is whether technology companies can continue turning record AI spending into sustainable earnings growth—or whether expectations have simply moved too far ahead of fundamentals.

Gain insights to strengthen your trading knowledge.

Watch it now and stay updated with FXOpen.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

FTX has scheduled its fifth creditor distribution for July 31, preparing to return nearly $900 million as founder Sam Bankman-Fried’s efforts to secure clemency face political resistance.

According to an FTX press release, the bankrupt exchange will distribute funds to creditors with approved claims in the Convenience and Non-Convenience Classes under its Chapter 11 reorganization plan. Claimants must have completed all pre-distribution requirements by the June 16 record date to qualify.

Eligible creditors will receive their payments through one of FTX’s approved distribution providers. The company has named Kraken, Payoneer, and crypto custodian BitGo among the services handling the transfers.

FTX described the July payment as its fifth distribution since the repayment process began. The company said the round will return almost $900 million to creditors, though it did not provide a breakdown of how much each claim class will receive.

Future record and payment dates will be announced later, according to the exchange. The bankruptcy proceedings also remain active, with the court scheduled to hold omnibus hearings on July 23 and Aug. 16.

Preferred shareholders will receive another $18 million

Alongside the creditor distribution, FTX will issue a second payment to eligible Preferred Equity Holders on July 31. The company said eligibility for this group was also determined using the June 16 record date.

Funds will come from the Preferred Shareholder Remission Fund Trust, which was established to compensate qualifying shareholders. FTX said the upcoming payment will distribute $18 million and raise total payments from the trust to $95 million.

Individual shareholders will receive their funds through Kraken, while BitGo will process payments for institutional recipients, according to the exchange. FTX added that it began contacting eligible Preferred Equity Holders in January to help them complete the required steps.

The dual distribution continues the financial unwind of FTX, which filed for bankruptcy in 2022 after a liquidity crisis exposed a multibillion-dollar shortfall. Under the court-approved plan, distributions depend on claim approval, record-date eligibility and completion of verification requirements.

SBF’s clemency campaign faces political resistance

While creditors await the latest payment, Bankman-Fried has continued seeking a presidential pardon for his criminal conviction. The former FTX chief is serving a 25-year prison sentence after a federal jury found him guilty of fraud and conspiracy charges connected to the exchange’s collapse.

Notably, the U.S. Senate recently rejected a clemency effort involving Bankman-Fried. President Donald Trump has also indicated that he does not plan to pardon the former executive, weakening the prospects of an early release through presidential action.

Criminal cases tied to FTX have continued even as the bankruptcy estate returns money to creditors. Last month, crypto.news reported that a federal judge rejected Michelle Bond’s attempt to dismiss four campaign finance-related charges and scheduled her trial for Nov. 9.

In an order filed in the U.S. District Court for the Southern District of New York, Judge George Daniels rejected Bond’s argument that prosecutors had promised not to charge her if her husband, former FTX executive Ryan Salame, pleaded guilty. Bond’s prosecution was one of the final criminal cases linked to FTX after several former executives faced charges following the exchange’s failure.

President Donald Trump has failed to unlock the stalled CLARITY Act after meeting Senate Republicans, with no revised text released and Polymarket traders cutting its 2026 passage odds to 32%.

Journalist Eleanor Terrett reported on X that the updated bill remained unavailable after Thursday’s White House meeting, where Trump and Republican senators discussed ethics rules tied to the legislation. Industry leaders now expect the text to arrive next week, according to Terrett, extending a delay around one of Washington’s most closely watched crypto bills.

“Updated legislative text remains elusive following yesterday’s meeting between President Trump and Senate Republicans on ethics,” Terrett wrote.

Before the meeting, Republican senators had suggested the draft could emerge shortly after their talks with Trump. Sen. Bernie Moreno told reporters that lawmakers would release the plan once the president received a briefing, adding that journalists would have “a lot of reading to do.”

Moreno is still seeking a Senate vote before the August recess, according to Terrett. Sen. Cynthia Lummis also expressed hope that the language would become public after the White House discussion, although she did not offer a firm timetable.

Passage odds have fallen to 32%

Polymarket traders have lowered the probability of the CLARITY Act becoming law in 2026 to 32% as Republicans and Democrats remain divided over the bill’s ethics provisions. The prediction-market decline has followed growing doubt over whether senators can secure enough bipartisan support to advance the measure.

In New York, the House Financial Services Committee’s Republican members are scheduled to hold a hearing at 10 a.m. ET on the legislation’s potential role in digital-asset development, according to Terrett. She noted that the event is informational and will not influence the Senate’s review of the bill.

The House passed its version of the CLARITY Act in 2025, but Senate negotiators have been working on separate language covering crypto market rules. Any final measure would need enough support to clear the Senate before lawmakers could reconcile it with the House bill.

Democratic ethics demands remain the main barrier

Sen. Ruben Gallego, one of the leading Democratic negotiators, told POLITICO that Republicans had presented ethics language his party could not support. Gallego linked the dispute to Trump’s business interests in the crypto sector and warned that the proposal would not attract the Democratic votes needed for passage.

“At the end of the day, we don’t have strong ethics,” Gallego said. “I don’t care what the president says. You’re not going to have the Democratic votes.”

After reviewing the Republican proposal, Gallego described it as “very weak,” arguing that it gave the president considerable freedom while offering limited consumer protections. A Democratic Senate aide also told POLITICO that the plan taken to the White House fell short of what Democrats would accept.

According to the same aide, Democratic lawmakers had neither reviewed nor approved the draft discussed during Thursday’s talks. The lack of agreement has left Republicans unable to present the delayed text as a bipartisan proposal.

Sen. Cory Booker has maintained that negotiations remain active, telling reporters that bipartisan cooperation is the only route to completing the legislation. Booker also indicated that negotiators should finish those discussions before releasing a new draft, leaving the publication date and Senate vote schedule unresolved.

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